Leafly (NASDAQ:LFLY) Stock Price Down 24.9% – Here’s What Happened

Leafly Holdings, Inc. (NASDAQ:LFLY)’s share price fell 24.9% during mid-day trading on Tuesday . The company traded as low as $0.30 and last traded at $0.30. 24,824 shares changed hands during trading, a decline of 70% from the average session volume of 83,319 shares. The stock had previously closed at $0.40.

Wall Street Analyst Weigh In

Separately, Westpark Capital reiterated a “buy” rating and set a $9.18 price target on shares of Leafly in a research report on Friday, November 8th.

Leafly Trading Down 24.9 %

The company has a market cap of $922,228.00, a price-to-earnings ratio of -0.13 and a beta of 0.81. The stock has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.65.

Leafly (NASDAQ:LFLY) last released its earnings results on Thursday, November 7th. The company reported ($0.46) earnings per share for the quarter. The business had revenue of $8.35 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Leafly stock. Renaissance Technologies LLC bought a new position in Leafly Holdings, Inc. (NASDAQ:LFLY) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,301 shares of the company’s stock, valued at approximately $33,000. Renaissance Technologies LLC owned 0.66% of Leafly as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 15.55% of the company’s stock.

Leafly Company Profile

Leafly Holdings, Inc owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. The company offers subscription-based marketplace listings, digital advertising solutions, and software as a service-based tools to cannabis retailers; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications.